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If You Already Have An IBR (Income Based Repayment) Plan…Do You Have To Recertify?

If you are within the 8 million people that have an active IBR (Income Based Repayment Plan) you will not need to Recertify to participate in the recent Student Loan Cancellation of $10,000 on Federal Loans and $20,000 on Pell Grants.
If you have an active IBR, you will not need to Recertify until July 2023

What can you expect to happen Next if you already have an IBR:

You can expect the balance to automatically be deducted from your balance starting in October throughout the end of the year!
✅Subscribe to Ed.Gov to receive live Updates to the application.
✅If you made payments during the Pandemic from March 23, 2020, you qualify for a Refund of up to 10k on Federal Loans and 20k on the Pell Grant!

Federal Student Aid is urging you to contact your Loan servicer directly to process these refunds.

Thankfully,
Shani

ABOUT THE AUTHOR

Every time I come in contact with someone I want to remind them of just how Power-full they truly are. Literal, #Purse Empowerment! I do this by empowering mostly women (some men) tackle their financial frustrations rather its saving their 1st $10,000, eliminating thousands of dollars in credit card debt, accelerating the process of paying off their student loan debt, boosting their credit scores, purchasing their first homes, converting their 1st homes into investments and even creating a business that will produce even more wealth for them to save, spend, share and invest.